Rosneft revenues bypassed sanctions via Ilan Shor's network

An investigation based on leaked internal documents from the Russian platform A7 reveals a massive clandestine financial network used to bypass Western sanctions. The scheme, supported by the Kremlin and managed by fugitive oligarch Ilan Shor, has reportedly channeled over $2 billion in foreign currency from the state-owned oil giant Rosneft to fund strategic imports and Russia's war efforts in Ukraine.

The network utilized a complex mechanism involving approximately 200 shell companies registered in various jurisdictions, including the United Arab Emirates, Hong Kong, and Kyrgyzstan. By using falsified commercial documents and cryptocurrency transactions, the system allowed Russian entities to conduct international payments via SWIFT despite restrictions on major Russian banks. The U.S. Treasury Department has identified A7 as a cross-border payment platform used for sanctions evasion. The fintech company was reportedly founded by Shor with support from the Russian state bank Promsvyazbank.